Hormel: ‘We have the capacity to do a multibillion deal’

Strategic acquisitions are a key component of Hormel Foods Corp.’s “formula for success,” said James Snee, president and chief executive officer. He said the company’s aperture is wide open.

“As we look for acquisition targets, we are focused on finding companies that are aligned with our growth pillars for being more global, multi-cultural, healthy, holistic and on-the-go,” Mr. Snee said during a presentation at the Consumer Analyst Group of Europe conference on March 21 in London. “We’re also looking for acquisitions that are No. 1 or No. 2 in their respective categories. And clearly we want acquisitions where the margins are accretive, and we want to bring more than just a check to the operation. And ideally we want an acquisition that can support or scale an existing business.”